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02-Looking for Trade Information.pdf

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02-Looking for Trade Information.pdf

  1. 1. Looking for trade information Cairo, March 2018 Understand your target market
  2. 2. Overview • Identify relevant information in systematic market research • Gather, record, analyse and understand market information Objectives • Organise your desk research following the 9Ps framework • Discover new institutional sources of information
  3. 3. Why should you gather trade information? Explore business opportunities Spot evolution trends in foreign markets Foresee other changes Develop and adopt new strategies
  4. 4. Conducting Market Research GATHERING Collecting appropriate data RECORDING Clear and organized records of findings ANALYSING Making sense of information UNDERSTANDING Consequences for customers and the market Systematic and Organized
  5. 5. Source of information: field research vs desk research FIELD RESEARCH Collecting original or primary data Interviews, survey, observation, experiments PROS: Specific to the firm and up to date CONS: Expensive and time consuming DESK RESEARCH Use of data that has already been obtained, analysed and used for other purpose PROS: Inexpensive, not time consuming CONS: May be out of date and not specific to the user’s needs
  6. 6. Obtaining the necessary information Information must be: • Comprehensive • Up to date • Cost-effective • Reliable: – Who wrote it and where did he/she get the information – Why was it written? – How was it written?
  7. 7. Take advantage of the Internet PROS: Communication:  Distance is not an issue  The World is your client….and your competitor Time vanishes:  Immediate response is possible  Real time perspective of the market Wealth of information available CONS: Source and content overload  Not always easy to identify credible/pertinent information  e.g. non-identified institutional attachment Not all information is free of charge...  Highly value-added information is costly! Visible vs. Invisible web
  8. 8. Three approaches to desk information gathering Publications • Bulletin: print, electronic • Market briefs, reports • Newsletters • Directories Web Site/Portal/Search engine •Databases, catalogs •Virtual Reference Desk •Magazine, Press •FAQs Information Centre/ Library • Inquiry/Reply • Reference Desk • Circulation, Loan • CyberSpace Reactive Interactive Proactive Alert systems • Current Awareness • Selective Dissemination • Email alerts • RSS (Really Simple Syndication) Collaborative tools Web 2.0 • Users • Partners • Staff • Social media Regular Consultations • Direct Contacts • Surveys • Seminars • Awareness events
  9. 9. Trade information : institutional websites http://www.cbi.eu http://www.iccwbo.org/ http://www.tfocanada.ca http://www.jetro.go.jp http://www.buyusainfo.net http://www.switzerland-ge.com/ http://www.intracen.org/ http://exporthelp.europa.eu http://www.austrade.gov.au/Export http://www.export.gov/ http://www.sdi.co.uk http://www.dubaichamber.com
  10. 10. www.intracen.org
  11. 11. ITC’s Market Analysis Tools (MATs)
  12. 12. Trade information : international market research companies www.dnb.com www.ipsos-mori.com www.lexisnexis.com www.tnsglobal.com www.euromonitor.com www.eiu.com www.emeraldinsight.com www.mintel.com www.lucintel.com
  13. 13. Navigating the CBI website www.cbi.eu
  14. 14. CBI Market Intelligence Platform www.cbi.eu/marketintel_platform 1. Select a market sector
  15. 15. CBI Market Intelligence Platform www.cbi.eu/marketintel_platform 1. Select a market sector • Competition • Market Trends • Channels and Segments • Legal and non-legal requirements • Tips • Promising export products • PDF downloads with reading time 2. Select a type of market information that interests you
  16. 16. Conducting Market Research GATHERING Collecting appropriate data RECORDING Clear and organised records of findings ANALYSING Making sense of information UNDERSTANDING Consequences for customers and the market Systematic and Organized
  17. 17. Recording sources effectively Collecting information is not difficult Assessing the right source is key Then processing, analysing and organising adequately the information is difficult part Having a method is the key Market Research Checklist
  18. 18. Structure your research of trade information • Be prepared, stick to the subject and avoid getting off the track. • Remember: always focus on “what you need to know” versus “what is nice to know” • Take regular breaks and time yourself For example, every hour with a moment of reflection by asking yourself: • What was I looking for? • What did I collect so far? Do this by skimming the documents. • How and where does this information fit in one of the 9Ps? • If it is useful and reliable? • What is worthwhile to print out for reading? • Can I find this out from somewhere else (by field research, reports from business information providers)?
  19. 19. Record your findings using the Market Zoom – 9 Ps
  20. 20. Conducting Market Research: Next steps GATHERING Collecting appropriate data RECORDING Clear and organised records of findings ANALYSING Making sense of information UNDERSTANDING Consequences for customers and the market Systematic and Organized
  21. 21. Let’s recap… By the end of this section you should have a good understanding of: • Where and how to look for trade information on Internet • How to organise your research following the 9Ps

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